Tex. Bus. Orgs. Code § 21.762 · Subchapter P. JUDICIAL PROCEEDINGS RELATING TO CLOSE CORPORATION
POWERS AND DUTIES OF CUSTODIAN.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A person who qualifies as a custodian has all of the powers and duties and the title of a receiver appointed under Sections 11.404-11.406. The custodian shall continue the business of the close corporation and may not liquidate the affairs or distribute the assets of the close corporation, except as provided by court order or Section 21.761(a)(3).
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BO/htm/BO.21.htm
- Text hash
- sha256 aef7d1b3ffed8007c5dfb58ef9543ebdddbeab6f2760f13ea0525f0f376d04b9
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Business Organizations Code
- Tex. Bus. Orgs. Code § 11.404APPOINTMENT OF RECEIVER TO REHABILITATE DOMESTIC ENTITY.Printed as Sections 11.404-11.406
- Tex. Bus. Orgs. Code § 11.406RECEIVERS: QUALIFICATIONS, POWERS, AND DUTIES.Printed as Sections 11.404-11.406
- Tex. Bus. Orgs. Code § 21.761APPOINTMENT OF CUSTODIAN.Printed as Section 21.761(a)(3)
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.